Enphase Device to Enable Solar to Run Lights If Grid Is Down
(Bloomberg) -- Enphase Energy Inc. has devised a solution to the solar industry’s Achilles heel: its inability to electrify homes that haven’t got battery backup when the grid goes dark.
The maker of devices called microinverters that turn solar power into residential energy said its new product overcomes that hurdle and expands the potential market for renewables to homeowners who can’t afford costly battery systems.
Conventional microinverters shut off when grid power is interrupted. Until now, that has meant homeowners also had to install suitcase-sized battery units in the garage or elsewhere to bank power for later use.
“The industry has been waiting for this product for a long time,” Enphase Chief Executive Officer Badri Kothandaraman said during an interview.
Enphase rose 1% Monday before the start of regular trading in New York. The shares have advanced about 70% in the past year.
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